General Motors Drives Big in Silicon Hills

Austin’s industrial market recently recorded a significant transaction initiated by Karlin Real Estate. The Los Angeles-based company sold the 302,604-square-foot industrial building located at 13201 McCallen Pass in north central Austin to General Motors Co.

Terms of the sale were not disclosed. GM bought the building to complement its 320,000-square-foot lease at the Austin IT Innovation Center at 717 E. Parmer Lane, which is currently owned by Gladstone Commercial Corp. It is unknown whether GM will keep the lease from Gladstone.

The newly acquired facility is located in Sector 6, part of the first phase of the 400-acre Parmer technology and office park developed by Karlin and Dallas-based Trammel Crow Co. Sector 6′s first phase totals about 1 million square feet in three industrial buildings, which were previously occupied by Dell and currently sold or leased to tenants such as Allergan, Brown Traffic, and Marco Fine Arts.